Crypto currencies are getting banned in 50 counties 🌎

[chessplayercoper23]

What does this mean for the cryptocurrency market?

 

[chessplayercoper23]

 

[Deleted member 8165]

Just VPN it bro

 

[Copeful]

nothingburger

 

[_____]

Iirc Indonesia banned crypto because its haram
Jfl

 

[Gonthar]

What does this mean for the cryptocurrency market?

It means they are very afraid of the way crypto will disrupt the market, back when Romania was communist they also banned the owning of foreign currency and more than 10 grams of gold.
Obviously, this didn't work, people still bought dollars and gold on the black market and kept it as a very safe long term investment. Alternative currencies also emerged - like cigarettes, coffee or chocolate - these were used to bribe bureaucrats, acquire services and favors, etc., but since they weren't technically money, the bribe charges could be avoided, and since they were also rare, very sought after goods they could be easily sold at any time for cash.

 

[eduardkoopman]

What does this mean for the cryptocurrency market?

if some unexpected big countries are on this list. A short downward reaction may happen. And than, after that, it's priced in.

 

[noodlelover]

It means big institutions are buying and want to push down the price with FUD. Welcome to the world of finance.

The way FUD works is a large whale who wants to purchase Crypto pays a broker. The broker then finds negative news on crypto or fabricates it, then pays writers for various media outlets to cover this specific piece of news to help push down the price temporarily so that the customer can buy in.

This report published by the U.S. law library of congress, is what's being covered in this instance:

https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf

According to the report, there are 9 countries of the 195 countries in the world where you can't use crypto. That means you are free to legally use in 95.4% of the world countries.

An additional 42 countries have what the report refers to as "implicit" bans. This is 21.5% of the worlds countries, and includes countries like Saudia Arabia, Senegal, and Tajikistan.

But what does the report mean by "implicit ban"? It could mean virtually anything. For Tajikistan, The Head of the National Bank of Tajikistan confirmed that ‘’there is no legislation in Tajikistan regulating operations with cryptocurrency,’’. So not having laws to regulate crypto yet, counts as an "implicit ban" according to the report.

Not having laws to regulate it yet, in poor countries like Tajikistan, where the annual average household income is less than 600 dollars (usd equivalent) is a far cry from your interpretation "crypto getting banned in 50 countries". Tajikistan people are starving, and most don't even have internet. They have bigger things to worry about than creating laws to regulate crypto.

But your misinterpretation of information is as intended.

The report was prepared by the "Staff of the Global Legal Research Directorate ". These guys write reports in response to requests from policymakers "working on complicated and pressing issues with global implications." Aka money talks. Pay a couple lobbyist to convince just one policy maker to get a report like this written (would not be hard) and you got yourself the needed FUD source to satisfy the whale. The important thing to note is that your interpretation of the information after it had been filtered through media outlets is as intended.

 

[Chinacurry]

It means big institutions are buying and want to push down the price with FUD. Welcome to the world of finance.

The way FUD works is a large whale who wants to purchase Crypto pays a broker. The broker then finds negative news on crypto or fabricates it, then pays writers for various media outlets to cover this specific piece of news to help push down the price temporarily so that the customer can buy in.

This report published by the U.S. law library of congress, is what's being covered in this instance:

https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf

According to the report, there are 9 countries of the 195 countries in the world where you can't use crypto. That means you are free to legally use in 95.4% of the world countries.

An additional 42 countries have what the report refers to as "implicit" bans. This is 21.5% of the worlds countries, and includes countries like Saudia Arabia, Senegal, and Tajikistan.

But what does the report mean by "implicit ban"? It could mean virtually anything. For Tajikistan, The Head of the National Bank of Tajikistan confirmed that ‘’there is no legislation in Tajikistan regulating operations with cryptocurrency,’’. So not having laws to regulate crypto yet, counts as an "implicit ban" according to the report.

Not having laws to regulate it yet, in poor countries like Tajikistan, where the annual average household income is less than 600 dollars (usd equivalent) is a far cry from your interpretation "crypto getting banned in 50 countries". Tajikistan people are starving, and most don't even have internet. They have bigger things to worry about than creating laws to regulate crypto.

But your misinterpretation of information is as intended.

The report was prepared by the "Staff of the Global Legal Research Directorate ". These guys write reports in response to requests from policymakers "working on complicated and pressing issues with global implications." Aka money talks. Pay a couple lobbyist to convince just one policy maker to get a report like this written (would not be hard) and you got yourself the needed FUD source to satisfy the whale. The important thing to note is that your interpretation of the information after it had been filtered through media outlets is as intended.

High IQ

 

[cmfanel]

It means big institutions are buying and want to push down the price with FUD. Welcome to the world of finance.

The way FUD works is a large whale who wants to purchase Crypto pays a broker. The broker then finds negative news on crypto or fabricates it, then pays writers for various media outlets to cover this specific piece of news to help push down the price temporarily so that the customer can buy in.

This report published by the U.S. law library of congress, is what's being covered in this instance:

https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf

According to the report, there are 9 countries of the 195 countries in the world where you can't use crypto. That means you are free to legally use in 95.4% of the world countries.

An additional 42 countries have what the report refers to as "implicit" bans. This is 21.5% of the worlds countries, and includes countries like Saudia Arabia, Senegal, and Tajikistan.

But what does the report mean by "implicit ban"? It could mean virtually anything. For Tajikistan, The Head of the National Bank of Tajikistan confirmed that ‘’there is no legislation in Tajikistan regulating operations with cryptocurrency,’’. So not having laws to regulate crypto yet, counts as an "implicit ban" according to the report.

Not having laws to regulate it yet, in poor countries like Tajikistan, where the annual average household income is less than 600 dollars (usd equivalent) is a far cry from your interpretation "crypto getting banned in 50 countries". Tajikistan people are starving, and most don't even have internet. They have bigger things to worry about than creating laws to regulate crypto.

But your misinterpretation of information is as intended.

The report was prepared by the "Staff of the Global Legal Research Directorate ". These guys write reports in response to requests from policymakers "working on complicated and pressing issues with global implications." Aka money talks. Pay a couple lobbyist to convince just one policy maker to get a report like this written (would not be hard) and you got yourself the needed FUD source to satisfy the whale. The important thing to note is that your interpretation of the information after it had been filtered through media outlets is as intended.

quality post